Sadly the strong support level that held for months has finally been breached. If the bearish candle closes below $320 level then we can expect more downward movement very soon. We have already tested $317 which is the lowest point BTC/USD has ever been since it started to gain bullish momentum at the end of 2013.
We are at a critical point right now with a lot at stake. Should the support level breach be confirmed tomorrow there is very little that our technicals can do to help Bitcoin. The only way I can see another bullish run in the future is through media influence or FBI, but I’ve heard rumors that these guys are doing all they can to destroy this lovely crypto currency, probably because they’re in league with central banks all over the globe who are scared to see Bitcoin as a powerful alternative to regulated currency. You can see it when you look into all the coins they’ve seized from people just to put them out for auction a few months later.
This post was written by ynef